American Banjo Museum Inc
- Assets
- $7.3m
- Revenue
- $655.0k
- Investments
- $0.0
- Employees
- 5
- Location
- Oklahoma City, OK
- Founding
- 02/1998
- Data as of
- 12/2020
- EIN
- 73-1526929
Organization Overview
American Banjo Museum Inc is located in Oklahoma City, OK. The organization was established in 1998. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, American Banjo Museum Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Banjo Museum Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, American Banjo Museum Inc generated $655.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (13.6%) each year. All expenses for the organization totaled $614.3k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND PROMOTE THE BANJO WHILE EXPANDING APPRECIATION OF ITS HISTORY AND MUSIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BANJO HALL OF FAME
EDUCATION ON THE HISTORY AND DEVELOPMENT OF THE FIVE STRING BANJO
YOUTH BANJO PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Johnny Baier Executive Director | 40 | $0 | |
James Kruger Director | Officer | 0 | $0 |
Ellie Burns Secretary | Officer | 1 | $0 |
Debbie Schreyer Director | Trustee | 1 | $0 |
Devin Tower Director | Trustee | 1 | $0 |
John Mumford Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $5,780 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $74,200 |
| All other contributions, gifts, grants, and similar amounts not included above | $452,569 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $532,549 |
| Total Program Service Revenue | $21,628 |
| Investment income | $99,575 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,199 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $654,951 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $64,128 |
| Compensation of current officers, directors, key employees. | $21,376 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $112,236 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $45,270 |
| Payroll taxes | $16,368 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,876 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,729 |
| Advertising and promotion | $12,308 |
| Office expenses | $5,361 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $594 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $87,288 |
| Insurance | $23,532 |
| All other expenses | $35,304 |
| Total functional expenses | $614,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $237,995 |
| Savings and temporary cash investments | $2,027,461 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $276,336 |
| Inventories for sale or use | $9,354 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,447,618 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,324,986 |
| Total assets | $7,323,750 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,831 |
| Total liabilities | $5,831 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $7,317,919 |
| Total liabilities and net assets/fund balances | $7,323,750 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that American Banjo Museum Inc has recieved totaling $180.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $180 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Missouri Historical Society Jefferson Memorial Building St Louis, MO | $154,816,775 | $36,156,227 |
United States Olympic Museum Colorado Springs, CO | $105,893,156 | $12,173,227 |
Union Station Kansas City Inc Kansas City, MO | $67,441,549 | $27,511,678 |
Dallas Holocaust Museum Dallas, TX | $66,648,208 | $7,378,894 |
Alamo Trust Inc San Antonio, TX | $7,473,583 | $9,052,846 |
Lone Star Flight Museum Houston, TX | $40,810,370 | $4,057,590 |
Dallas County Historical Foundation Dallas, TX | $11,613,862 | $4,636,701 |
Bryan Texana Foundation Houston, TX | $8,461,183 | $2,408,537 |
Port Terminal Railroad Association Employee Benefit Plan Houston, TX | $666,713 | $3,214,049 |
Colorado Railroad Historical Foundation Inc Golden, CO | $11,069,630 | $3,773,051 |
Museum Of South Texas History Edinburg, TX | $13,050,416 | $3,078,245 |
National Atomic Museum Foundation Albuquerque, NM | $7,001,482 | $2,166,618 |